SLT continues growth momentum

Sri Lanka Telecom (SLT), the leading national integrated telecommunications service provider, continued its growth momentum, seeing its Profit Before Tax (PBT), Profit After Tax (PAT), revenue and all other key performance indicators showcasing sustained improvement.

Having achieved numerous milestones last year, the group, which released its financial results for the year ended December 31, 2011, has invested heavily for the future with Rs 18 billion capex, an increase of 176 percent Year on Year (YoY), whilst notching Profit Before Tax of Rs. 6.53 billion,

a YOY growth of 10 percent and Profit After Tax of Rs 4.78 billion, an increase of 21 percent, while recording a revenue of Rs. 50.95 billion.

At company level, Sri Lanka Telecom posted Rs 4.8 billion that is 21 percent growth in PBT, and an impressive 44 percent growth to Rs.3.56 billion in PAT.

A visionary business strategy coupled with a pragmatic transformation plan has driven the group to become the telecommunication solutions powerhouse in the country, delivering strong financial results that point towards stability and consistent performance within the Group. SLT saw its wire fixed line revenue stabilise, arresting the declining trend that emerged about five years ago.

There was also significant growth contribution from non-traditional revenue streams, mainly fixed broadband, wholesale and enterprise sales, while mobile revenue also displayed a growth of seven percent to stand at Rs. 21 billion. Local revenue at company level increased by three percent, which validates our strategies to turn around the earlier negative growth.